Edited fragments from a chat:
As India go to its 2047 Viksit Bharat goals, what are the most important transforming shifts that you expect in markets in the next two decades?
By 2047, the growth of India will be powered by large shifts – clean energy and electricity networks, semiconductor and electronics production, defense production, AI and data centers, health care, production, rising urbanization, domestic savings in shares and digital platforms such as UPI those new services.
Trump’s aggressive rates against India can challenge investment themes such as China+1, Make in India and Atmanirbhar Bharat. How do you see the landscape evolving from the perspective of a markets and does it require a change in strategy?
Rising American rates will harm exporters who trust the US too much and have no price power. Instead, investors must focus on Indian companies that benefit from domestic growth and on exporters such as pharmaceutical, engineering R&D and IT that are diversified in regions and less exposed to rates. The best choices are financially strong companies with low debts, high returns and long -term orders, because they can continue to grow steadily despite the worldwide uncertainty.
Which sectors or companies are currently at critical bending points and offer special opportunities investments for the coming years?
The great opportunities that lie in front of us in companies that supply critical equipment for electric grids and HVDC transmission, renewable energy plus storage systems and data centers (such as cables, cooling and switch). There is also a strong potential in the supply chain of the semiconductor, defense platforms with long-term orders, rail/metro and freight infrastructure and manufacturers of health care/API-CDMO. The focus must be on companies that already have operational capacity, long-term contracts, strong price strength and high efficiency (18-20%+), while adding exposure when supplying milestones instead of just news flow.
How does Motilal Oswal AMC’s QGLP philosophy give you a lead in identifying and recording these opportunities?
The QGLP philosophy – quality, growth, lifetime and price – gives us a disciplined framework to find the right companies with the right ratings. It ensures that we support companies with strong foundations and capable management, concentrate on companies that can grow for years and remain disciplined about what we pay. This balance not only helps us to identify early opportunities, but also keep them with confidence through cycles, while they pay too much in times of hype. That consistency is what gives us a lead.
How do you see the Indian stock markets in the next 12-18 months?
In the next 12-18 months, the markets must be trend, but with some volatility, because strong domestic foundations and capital flows compensate global concerns. The profit growth will probably be expanded in FY26.
Many investors found the income season below the expectations of the first quarter, because signs of broad growth was missing. Do you think the profit recovery will be in Q2 or Q3?
From Q2 FY26, growth should collect with the support of festive expenses, reduction of income tax and GST plate rationalization, while the recovery at Q3 will be wider. The worldwide uncertainty is expected to relieve, the domestic and export orders will translate into income, stabilize the input costs and the recovery of the margin will start playing.
If you currently had RS 10 Lakh to invest in the market, how would you spread it over gold/silver, shares and debts?
For a horizon of 5+ years, the majority of the money must be in shares (about 75%) to catch the growth in the long term, while 15% is kept in debts by a mix of short-medium duration and target group/dynamic funds for stability, and 10% in gold/silver as a cover against uncertainty.
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